SECTIONS 3410-3413 - California Statutes

PROBATE CODE

SECTION 3410-3413

3410. (a) This article applies to both of the following cases:
(1) Where the minor has a guardian of the estate and the sole
asset of the guardianship estate is money.
(2) Where the minor has no guardian of the estate and there is
money belonging to the minor.
(b) This article does not apply to, and there shall be excluded in
computing "money belonging to the minor" for the purpose of this
article, all of the following:
(1) Money or property which is or will be held as "custodial
property" pursuant to the California Uniform Transfers to Minors Act,
Part 9 (commencing with Section 3900).
(2) Any money or property subject to court order pursuant to
subdivision (c) of Section 3602 or Article 2 (commencing with Section
3610) of Chapter 4.

3411. (a) A parent of a minor entitled to custody of the minor, the
guardian of the estate of the minor, or the person holding the money
belonging to the minor may file a petition requesting that the court
make an order under this article.
(b) The petition shall be filed in the superior court of:
(1) The county where the minor resides if the minor has no
guardian of the estate.
(2) The county having jurisdiction of the guardianship estate if
the minor has a guardian of the estate.

3412. If the minor has a guardian of the estate and the sole asset
of the guardianship estate is money, the court may order that the
guardianship of the estate be terminated and, if the court so orders,
the court in its discretion shall also order any one or more of the
following:
(a) That the money be deposited in an insured account in a
financial institution in this state, or in a single-premium deferred
annuity, subject to withdrawal only upon authorization of the court.
(b) That all or any part of the money be transferred to a
custodian for the benefit of the minor under the California Uniform
Transfers to Minors Act, Part 9 (commencing with Section 3900).
(c) If the money of the guardianship estate does not exceed twenty
thousand dollars ($20,000), that the money be held on any other
condition that the court in its discretion determines to be in the
best interests of the minor.
(d) If the money of the guardianship estate does not exceed five
thousand dollars ($5,000), that all or any part of the money be paid
to a parent of the minor, without bond, upon the terms and under the
conditions specified in Article 1 (commencing with Section 3400).
(e) That the remaining balance of any money paid or to be paid be
deposited with the county treasurer, if all of the following
conditions are met:
(1) The county treasurer has been authorized by the county board
of supervisors to handle the deposits.
(2) The county treasurer shall receive and safely keep all money
deposited with the county treasurer pursuant to this subdivision,
shall pay the money out only upon the order of the court, and shall
credit each estate with the interest earned by the funds deposited
less the county treasurer's actual cost authorized to be recovered
under Section 27013 of the Government Code.
(3) The county treasurer and sureties on the official bond of the
county treasurer are responsible for the safekeeping and payment of
the money.
(4) The county treasurer shall ensure that the money deposited is
to earn interest or dividends, or both, at the highest rate which the
county can reasonably obtain as a prudent investor.
(5) Funds so deposited with the county treasurer shall only be
invested or deposited in compliance with the provisions governing the
investment or deposit of state funds set forth in Chapter 5
(commencing with Section 16640) of Part 2 of Division 4 of Title 2 of
the Government Code, the investment or deposit of county funds set
forth in Chapter 4 (commencing with Section 53600) of Part 1 of
Division 2 of Title 5 of the Government Code, or as authorized under
Chapter 6 (commencing with Section 2400) of Part 4.

3413. If the minor has no guardian of the estate and there is money
belonging to the minor, the court may order that a guardian of the
estate be appointed and that the money be paid to the guardian or the
court may order any one or more of the following:
(a) That the money be deposited in an insured account in a
financial institution in this state, or in a single-premium deferred
annuity, subject to withdrawal only upon authorization of the court.
(b) That all or any part of the money be transferred to a
custodian for the benefit of the minor under the California Uniform
Transfers to Minors Act, Part 9 (commencing with Section 3900).
(c) If the money belonging to the minor does not exceed twenty
thousand dollars ($20,000), that the money be held on any other
condition that the court in its discretion determines to be in the
best interests of the minor.
(d) If the money belonging to the minor does not exceed five
thousand dollars ($5,000), that all or any part of the money be paid
to a parent of the minor, without bond, upon the terms and under the
conditions specified in Article 1 (commencing with Section 3400).
(e) That the remaining balance of any money paid or to be paid be
deposited with the county treasurer, if all of the following
conditions are met:
(1) The county treasurer has been authorized by the county board
of supervisors to handle the deposits.
(2) The county treasurer shall receive and safely keep all money
deposited with the county treasurer pursuant to this subdivision,
shall pay the money out only upon the order of the court, and shall
credit each estate with the interest earned by the funds deposited
less the county treasurer's actual cost authorized to be recovered
under Section 27013 of the Government Code.
(3) The county treasurer and sureties on the official bond of the
county treasurer are responsible for the safekeeping and payment of
the money.
(4) The county treasurer shall ensure that the money deposited is
to earn interest or dividends, or both, at the highest rate which the
county can reasonably obtain as a prudent investor.
(5) Funds so deposited with the county treasurer shall only be
invested or deposited in compliance with the provisions governing the
investment or deposit of state funds set forth in Chapter 5
(commencing with Section 16640) of Part 2 of Division 4 of Title 2 of
the Government Code, the investment or deposit of county funds set
forth in Chapter 4 (commencing with Section 53600) of Part 1 of
Division 2 of Title 5 of the Government Code, or as authorized under
Chapter 6 (commencing with Section 2400) of Part 4.